The Muvattupuzha Agricultural ... vs The Income Tax Officer

Kerala High Court

The Muvattupuzha Agricultural ... vs The Income Tax Officer on 21 May, 2024

Author: Murali Purushothaman

Bench: Murali Purushothaman

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
          THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
         TUESDAY, THE 21ST DAY OF MAY 2024 / 31ST VAISAKHA, 1946
                          WP(C) NO. 17739 OF 2024
PETITIONER:

              THE MUVATTUPUZHA AGRICULTURAL CO-OPERATIVE BANK LTD
              NO.H.W. 935,MARKET P.O, VELLOORKUNNAM, MUVATTUPUZHA
              ERNAKULAM DISTRICT, REPRESENTED BY ITS SECRETARY,
              PIN - 686 673.

              BY ADV C.A.JOJO


RESPONDENTS:

     1        THE INCOME TAX OFFICER
              WARD 1 & TPS, THODUPUZHA, TEMPLE ROAD, THODUPUZHA,
              IDUKKI,, PIN - 685 584.

     2        INCOME TAX OFFICER (NFAC)
              NATIONAL FACELESS ASSESSMENT CENTRE, NORTH BLOCK, NEW
              DELHI, PIN - 110 001.


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 17739 OF 2024

                             : 2 :



                          JUDGMENT

The petitioner, a Co-operative society has filed this writ petition challenging Exts.P3 order under Section 148 A (d) and Ext.P4 notice Section 148, directing to the petitioner to file Income Tax Returns for the AY 2020- 2021. According to the petitioner, the petitioner is eligible for deduction under Section 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act and if the deduction under Section 80 P of Income Tax Act is denied, the petitioner will face huge financial liability.

2. Adv.Jose Joseph, the learned Standing Counsel for the Income Tax Department submits that the period to file Returns will expire only on 29.06.2024, and that, if the petitioner files return of their income before the WP(C) NO. 17739 OF 2024 : 3 : said period, the assessing authority will consider the same in accordance with law.

Considering the submission made by the learned Standing Counsel for the Income Tax Department, this Writ Petition is disposed of, with direction to the petitioner to file the return of their income before 29.06.2024. If the petitioner files their return of income within the said period, the assessing authority shall consider the same in accordance with law.

Sd/-

MURALI PURUSHOTHAMAN JUDGE SRJ WP(C) NO. 17739 OF 2024 : 4 : APPENDIX OF WP(C) 17739/2024 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE U/S 148A(B) ISSUED BY THE 1ST RESPONDENT DATED 10.03.2024. Exhibit P2 A TRUE COPY OF THE REPLY DATED 18.03.2024 SUBMITTED TO THE 1ST RESPONDENT.

Exhibit P3 A TRUE COPY OF THE ORDER U/S 148A(D) DATED 29.03.2024 ISSUED BY THE 1ST RESPONDENT. Exhibit P4 A TRUE COPY OF THE ORDER U/S 148 DATED 30.03.2024 ISSUED BY THE 1ST RESPONDENT. Exhibit P5 A TRUE COPY OF THE JUDGMENT IN WP (C ) NO.15059 OF 2023 DATED 08.09.2023